PRIME Minister Anwar Ibrahim said one of the projects from the record RM170 billion worth of investment commitment from China is expected to kickstart as early as next month. 

Anwar hoped that the implementation of the projects would serve as a boost for other possible investors. 

“The first of the initial projects is expected to start by May, at the latest.

“This will give an impetus to investors apart from those who signed the memoranda of understanding (MOU), meaning the implementation will have to be expedited,” the finance minister told a post-cabinet press conference in Putrajaya today. 

The prime minister is also appealing to the relevant state and local authorities to ensure the related processes are accelerated for the ease of the companies concerned.

“The rules and regulations must be determined and fully complied with and all studies from the department must be completed.

“But do not take too much time, because in the current situation we need to drive more vigorous investment,” the Tambun lawmaker added. 

Last week, Anwar, who was in China on a four-day visit, secured a record RM170 billion worth of investment commitment from China, the biggest for Malaysia to date. 

A total of 19 MOU were signed between Malaysian and Chinese companies.

Among them, Anwar said, is an investment estimated at RM80 billion by Rongsheng Petrochemicals Co Ltd in a petrochemical refinery. 

He also said automakers Zhejiang Geely Holding Group, will invest RM2 billion initially and later will ramp the amount up to RM32 billion. 

Anwar also told the press today he will chair a special meeting on the RM170 billion investment to ensure effective implementation of the projects. 

He said he and other ministers from his cabinet will discuss with state governments on proposed projects, especially the state that receives large investment contributions from China. – April 5, 2023.